-Latvia seems to be catching up with its rapidly growing Baltic neighbors as GDP rose 2.2% (9% at an annualized rate) in the second quarter compared to the first and 5.3% compared to the second quarter of 2010.

-China saw both its consumer price inflation rate and trade surplus increase. Since a stronger yuan would reduce both, this will likely induce Chinese policy makers to allow the yuan to appreciate faster against the U.S. dollar.

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